Mirae Asset Global Investments Co. Ltd. Purchases 1,718 Shares of Jack Henry & Associates, Inc. (NASDAQ:JKHY)

Mirae Asset Global Investments Co. Ltd. boosted its position in Jack Henry & Associates, Inc. (NASDAQ:JKHY) by 29.7% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 7,501 shares of the technology company’s stock after purchasing an additional 1,718 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Jack Henry & Associates were worth $1,326,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State Street Corp increased its position in shares of Jack Henry & Associates by 1.7% during the third quarter. State Street Corp now owns 3,976,658 shares of the technology company’s stock valued at $702,039,000 after acquiring an additional 67,716 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Jack Henry & Associates by 7.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,791,810 shares of the technology company’s stock valued at $316,326,000 after purchasing an additional 131,515 shares during the last quarter. Nordea Investment Management AB increased its position in shares of Jack Henry & Associates by 50.8% during the 4th quarter. Nordea Investment Management AB now owns 780,319 shares of the technology company’s stock valued at $136,720,000 after purchasing an additional 263,021 shares during the last quarter. Raymond James & Associates raised its stake in shares of Jack Henry & Associates by 3.2% during the 3rd quarter. Raymond James & Associates now owns 631,974 shares of the technology company’s stock worth $111,569,000 after purchasing an additional 19,846 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in Jack Henry & Associates by 0.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 610,742 shares of the technology company’s stock valued at $107,820,000 after buying an additional 2,324 shares during the period. Hedge funds and other institutional investors own 98.75% of the company’s stock.

Jack Henry & Associates Stock Down 1.5 %

Shares of NASDAQ JKHY opened at $170.97 on Wednesday. The business has a 50-day moving average of $174.73 and a 200-day moving average of $174.92. The firm has a market capitalization of $12.47 billion, a price-to-earnings ratio of 30.86, a PEG ratio of 3.46 and a beta of 0.61. Jack Henry & Associates, Inc. has a 12 month low of $157.00 and a 12 month high of $189.63. The company has a current ratio of 3.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.03.

Jack Henry & Associates (NASDAQ:JKHY) last released its quarterly earnings results on Tuesday, February 4th. The technology company reported $1.34 earnings per share for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.03). Jack Henry & Associates had a net margin of 17.83% and a return on equity of 21.55%. Sell-side analysts expect that Jack Henry & Associates, Inc. will post 5.83 earnings per share for the current fiscal year.

Jack Henry & Associates Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Thursday, March 6th will be issued a dividend of $0.58 per share. This is a positive change from Jack Henry & Associates’s previous quarterly dividend of $0.55. This represents a $2.32 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date is Thursday, March 6th. Jack Henry & Associates’s dividend payout ratio is currently 39.71%.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Royal Bank of Canada lifted their price objective on shares of Jack Henry & Associates from $181.00 to $203.00 and gave the stock a “sector perform” rating in a research report on Thursday, November 7th. StockNews.com downgraded Jack Henry & Associates from a “buy” rating to a “hold” rating in a research note on Tuesday, November 26th. William Blair downgraded Jack Henry & Associates from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 6th. UBS Group upped their price target on Jack Henry & Associates from $180.00 to $190.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Finally, Stephens reiterated an “equal weight” rating and issued a $170.00 target price on shares of Jack Henry & Associates in a research note on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Jack Henry & Associates presently has an average rating of “Hold” and a consensus price target of $186.80.

Insiders Place Their Bets

In other Jack Henry & Associates news, insider David B. Foss sold 18,770 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $171.32, for a total transaction of $3,215,676.40. Following the transaction, the insider now owns 138,665 shares in the company, valued at approximately $23,756,087.80. This represents a 11.92 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.37% of the company’s stock.

Jack Henry & Associates Profile

Jack Henry & Associates, Inc is a financial technology company, which engages in the provision of technology solutions and payment processing services. It operates through the following segments: Core, Payments, Complementary, and Corporate and Other. The Core segment provides core information processing platforms to banks and credit unions which consist of integrated applications required to process deposit, loan, and general ledger transactions, and maintain centralized customer and member information.